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Boomers Greed. 72% would rather spend their money than leave an inheritance.
Topic Started: 19 Sep 2014, 05:55 PM (7,155 Views)
peter fraser
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ThePauk
20 Sep 2014, 01:36 PM
Peter, remember in your club you are supposed to be playing the 'good cop' and comment like 'You are an obsessed delusional fool' might put you in conflict with the clubs plans.
I'm not in a club Paul and I'll act as I please.

I'm just a bit over jerks making stupid comments about other groups, whether they be a different race, skin colour, religion or age bracket.

If you want to actually sit down and discuss the issues like an adult then that's fine but every couple of weeks you post an anti boomer or bash a granny thread based on your self perception as a moral crusader, but you are like every other lobbyist, you want to change the world to suit you instead of changing you to suit the world.

You could be working for big oil, the banks, a religious group, I really don't care, but you have no solutions only larger problems, and I don't support that in any way shape or form.

Any expressed market opinion is my own and is not to be taken as financial advice
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zaph
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ThePauk
20 Sep 2014, 01:01 PM

conducted by US investment advisers TD Ameritrade says just 16% of parents plan on leaving anything at all to their kids.
http://thegreynomads.com.au/planning/before-you-go/should-we-fell-guilty/

http://barefootinvestor.com/retirees-underestimate-challenge-living-on-savings/

http://www.theaustralian.com.au/national-affairs/were-just-spending-the-kids-inheritance/story-fn59niix-1226685249760

Mmmm. I wonder who owns the app name 'Grey Nomads', oh that's right I do....lol

"There is evidence of a drop in the amounts that older people are leaving

This trend has been observed in several countries. It especially raises the question of what older people are doing with their comparative wealth, and whether what could be left is being left, or is being spent. There is a distinct possibility that older people are spending money on themselves that they might otherwise have left to their children (e.g., Finch & Mason, 2000, for England; Kelly & Harding, 2006, for Australia). Another possibility is that older people, by dint of living longer, may be spending the money on medical and care expenses for the extra years. We probably need to distinguish between their discretionary and non-discretionary spending, but in either case it adds up to having less to pass on."
http://www.aifs.gov.au/institute/pubs/fm2011/fm88/fm88a.html
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Bullshit.


What's bullshit? You need to calm down...

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So you are assuming they boomers are not counting the PPOR or investment in their spend it all and not leave anything behind. What crap.


Can you translate this to English? As it stands I can't understand it.

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Mmmm. I wonder who owns the app name 'Grey Nomads', oh that's right I do....lol


Are you profiting from the area you despise?
peter fraser
20 Sep 2014, 02:09 PM
I'm not in a club Paul and I'll act as I please.

I'm just a bit over jerks making stupid comments about other groups, whether they be a different race, skin colour, religion or age bracket.

If you want to actually sit down and discuss the issues like an adult then that's fine but every couple of weeks you post an anti boomer or bash a granny thread based on your self perception as a moral crusader, but you are like every other lobbyist, you want to change the world to suit you instead of changing you to suit the world.

You could be working for big oil, the banks, a religious group, I really don't care, but you have no solutions only larger problems, and I don't support that in any way shape or form.
Expect a call on Monday from Pork. He's realised he can get a mortgage with his bits and pieces of employment.

Ra! Hear me roar!
Edited by zaph, 20 Sep 2014, 02:29 PM.
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ThePauk
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Bugger, and here I was thinking that I needed PF to agree before any real lobbing could take place. :-)

Zaph has raised some important concerns re the asset test and I have researched and changed my views to now make the VG a amount the basis for the asset test.
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peter fraser
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ThePauk
20 Sep 2014, 03:11 PM
Bugger, and here I was thinking that I needed PF to agree before any real lobbing could take place. :-)

Zaph has raised some important concerns re the asset test and I have researched and changed my views to now make the VG a amount the basis for the asset test.
Actually Paul I don't think that what you intend to do will cause me any grief personally at all, but it will hurt others.

Your argument is built on a belief that 72% of retirees intend to spend every thing that they have and not leave anything to their children, so why don't you visit a nearby senior citizens organisation and survey them yourself.

Ask them -

1. Are they wealthy and in a position to leave some wealth to their children.
2. If so do they intend to spend every dollar that they own.
3. If so does that include the equity in their home.
4. Are they intent on doing their own children out of any inheritance.
5. Did they receive a substantial inheritance from their parents when they passed on.


Only five questions. Maybe you can get them to do an online poll and link or advertise it on seniors websites.
Any expressed market opinion is my own and is not to be taken as financial advice
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ThePauk
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peter fraser
20 Sep 2014, 05:52 PM
Actually Paul I don't think that what you intend to do will cause me any grief personally at all, but it will hurt others.

Your argument is built on a belief that 72% of retirees intend to spend every thing that they have and not leave anything to their children, so why don't you visit a nearby senior citizens organisation and survey them yourself.

Ask them -

1. Are they wealthy and in a position to leave some wealth to their children.
2. If so do they intend to spend every dollar that they own.
3. If so does that include the equity in their home.
4. Are they intent on doing their own children out of any inheritance.
5. Did they receive a substantial inheritance from their parents when they passed on.


Only five questions. Maybe you can get them to do an online poll and link or advertise it on seniors websites.
Peter
The Lucky generation intend to leave an inheritance and the oldest boomer is only 68. No point asking the seniors as we know what they intend to do. I have provvided proof that the boomers feel differently. You can accept that or reject it, it matters not to me.
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Garden Variety
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peter fraser
20 Sep 2014, 08:56 AM
It may be the only holiday that I can afford if Paul is going to tax what I have accumulated.
You prolly accumulated ya wealth thru stealing other fellas taxes, most in this country do

but yeah, no worries mate, most squeal a bit when its their turn to bend over ... if you are less of a prick about it the next gen might use some lube.
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herbie
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Garden Variety
20 Sep 2014, 06:22 PM
You prolly accumulated ya wealth thru stealing other fellas taxes, most in this country do

but yeah, no worries mate, most squeal a bit when its their turn to bend over ... if you are less of a prick about it the next gen might use some lube.
And with an attitude like that GV, if I was your dear ole dad, I'd be making sure you got left squat.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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ThePauk
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Garden Variety
20 Sep 2014, 06:22 PM
You prolly accumulated ya wealth thru stealing other fellas taxes, most in this country do

but yeah, no worries mate, most squeal a bit when its their turn to bend over ... if you are less of a prick about it the next gen might use some lube.
Peter just followed the herd and did what he thought was right. To peddle loans. In many ways I think he is more like a rep for a tabacco comapny who does not smoke himself.
Peter has stated that any house price infaltion above wages growth is not a good thing, so I can assume he is not happy with the recent house price infalation.
herbie
20 Sep 2014, 06:34 PM
And with an attitude like that GV, if I was your dear ole dad, I'd be making sure you got left squat.
Bottom line is Herbs is that Gen Y/X do not expect to get anything. They realise that while boomers talk about SKIN etc, the vast majority will not have enough funds for their retirement and later life.
Edited by ThePauk, 20 Sep 2014, 06:39 PM.
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peter fraser
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ThePauk
20 Sep 2014, 06:34 PM
Peter just followed the herd and did what he thought was right. To peddle loans. In many ways I think he is more like a rep for a tabacco comapny who does not smoke himself.
Peter has stated that any house price infaltion above wages growth is not a good thing, so I can assume he is not happy with the recent house price infalation.

Bottom line is Herbs is that Gen Y/X do not expect to get anything. They realise that while boomers talk about SKIN etc, the vast majority will not have enough funds for their retirement and later life.
No pal I did well in food distribution, being a mortgage broker is what I do now to keep me out of trouble, and it's a worthwhile occupation that lets me help people instead of destroying lives like you and your mate David Collyer.

I've done more work truck driving, heavy lifting and forklift work than you will ever do with your hairdressing business and useless app building.
Garden Variety
20 Sep 2014, 06:22 PM
You prolly accumulated ya wealth thru stealing other fellas taxes, most in this country do

but yeah, no worries mate, most squeal a bit when its their turn to bend over ... if you are less of a prick about it the next gen might use some lube.
No I made the unfortunate error of working for my money, but I see that what I should have done was steal it of someone else legally.
Edited by peter fraser, 20 Sep 2014, 06:51 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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Garden Variety
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herbie
20 Sep 2014, 06:34 PM
And with an attitude like that GV, if I was your dear ole dad, I'd be making sure you got left squat.
No skin off my nose mate and happy for yours to do likewise.

No shortage of nothin in the modern age ... except time ... enjoy it.
peter fraser
20 Sep 2014, 06:49 PM
No I made the unfortunate error of working for my money, but I see that what I should have done was steal it of someone else legally.
Yep, 300 billion of the taxpayers dosh was doled out to the real estate industry.

Looks like you got yours by clippin the mortgage ticket as it passed from sucker to predator.
Edited by Garden Variety, 20 Sep 2014, 07:04 PM.
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